5 (18) Suppose you borrow $15,000 at the start of 2021 to buy a car. You intend to pay the loan back each month over 5 years beginning at the end of January 2021. If the loan rate is effectively 0.25% per month, please answer the following questions: a. What will be your monthly payment if you do pay it off over N= 5 years? b. What is the remaining balance of your car loan immediately after making your 24h payment at the end of year 2? c. Suppose instead you send the bank a check for $440 every month. Rounding off to the nearest number of months, how many months are required to pay off the loan by paying $440 each month assuming that the bank applies the proper portion of each payment to interest or principle at 0.25% per month? AF TABLE C-1 Date compounding 1745 Single Payment Compound Present Compound Amount Worth Amount Factor Factor Factor To Find F To Find P To Find F Given P Given F Given A FP PIF FA 10025 0.9975 1.0000 1 DOSO 0.9950 2 Des 15 0.9925 30095 10100 0.9901 40150 10126 OL9876 50251 6 1 0151 0.9851 6006 7 1 0176 09627 7027 8 10202 0.9802 80704 9 10227 0.9778 90215 10 10253 0.9753 101133 11 10278 09729 111385 12 10304 0.9705 12.1664 10330 0.9681 13.1968 14 10356 09656 14.298 15 10382 04632 15.2554 16 10408 OSEOS 16.3035 17 10-34 019984 17.3443 1040 09561 18.3876 19 10-26 09637 19.4336 10512 EL 9513 20.4822 1053 0989 21.5334 22 10565 09666 25872 1.0591 09H2 23 837 24 1.1618 0418 24.7028 25 10644 09395 25761 30 10778 0.9278 31.1133 36 10941 0.9140 40 11050 09050 42.0132 48 L23 0.81 50.9312 1161 57 1.149 08355 787794 12334 9419 12 115 Uniform Series Present Sinking Worth Fund Factor Factor To Find P To Find A Given A Given F PA 0.9475 1.0000 1.9405 0.94 2.9851 0.3325 3.9951 0.2491 0.1990 5.908 0.1656 6.9805 0.1418 7.9107 0 1239 BAS 01100 9.639 DOR 10.2368 0098 11 8173 010822 127753 0.0058 13.7410 0.003 14.7042 010655 1560 0.0613 16.6235 04577 17.5795 DL54 18.5332 0.0615 19.4845 0.0458 213334 0164 21.30 0045 22 3241 06423 21.30 0.0405 24.2015 28 29 00321 34 3665 Capital Recovery Factor To Find A Glven P AP 10025 0.3019 0.2350 0.2516 0.2015 01681 0.143 0.1264 0.1125 0.1014 0.0923 OOO 00783 0072 0680 2 EIN UNSEE 0.0602 05 050 0.0513 00499 00465 00448 00430 00413 0291 0.01 0130 45.175 55.6524 5814 75-681 8832 02 2012 TABLE C-9 school Single Payment Compound Present Amount Worth Factor Factor To Find F To Find P Glven P Gyen/ FP PE 1.000 09134 2 1.1236 0.8900 1.1910 O.RU 1.225 0721 1.382 0.7473 1.4185 0.7050 1.5036 0.6651 8 1.5938 0.6274 1.695 0.5919 10 1.70 0.544 11 1.8983 0.5268 12 2.0122 0.10 13 2.109 0.688 14 2.2009 0.463 15 0.4173 16 2504 0.3936 17 2.28 0.3714 18 28543 0.2003 19 3.0256 5 3.271 0.3118 21 0.2942 3.6135 02775 23 3.8197 0218 24 0.2470 42919 DI 5.705 0.1741 35 101 10 02 0727 14 120 0. 105 921 09 Compound Amount Factor To Find F Glven A FA 1.0000 20500 2.1836 43746 5601 69733 83938 9.8975 11.13 13.1808 14.9716 16.99 18 621 21.0151 23 2760 250725 28 2129 390 337600 36789 1999 0223 Uniform Series Present Sinking Worth Fund Factor Factor To Find P To Find A Glen A Given F PA AF 0904 1.0000 1.8334 0.4854 26730 03141 34651 0.7286 42124 0.1774 49173 0.1434 55801 0.1191 6.2008 0.1010 68017 0.0820 7.301 0109 7.8869 0.0668 833 0,0693 82 0.0830 9.2980 0.0476 9.7122 0.04.20 10.1089 0.0390 10.4773 0.0054 108276 0024 11.1581 11.69 0.0072 11.7641 OLSO 12.06 ON 12.2014 0.0013 125334 1274 00 17. 10 Com 150 Capital Recovery Factor To Find A Glen P AP 1.0600 0.5454 0.3741 0.2886 0.2374 0.2034 0.1791 0.1610 0.1420 0.1399 0.1268 0.1193 0.1130 0.1076 0.103 00090 0.0954 0.0924 0.0596 0.0572 00850 ORO N3 0.0093 072 08 55 29.0582 1114MEN 1976 2127415 2 OS 1561 0.00134 In 11 oth IT 6. 1. 16